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Friday, January 16, 2009

News Gas Prices Rising?!?!

Posted by Dan Savage on Fri, Jan 16, 2009 at 12:41 PM

It's on the cover of today's P-I.

Gas at a Queen Anne Shell station was cheap enough—just over $2 a gallon. But that didn't stop Brian Wallace from worrying about the recent creep in gas prices throughout the city.

"It sucks," said Wallace of Mill Creek as he refueled his car.... Although nowhere near last summer's high of more than $4 a gallon, gas prices have been inching up in Seattle, from $1.81 a gallon last month to $2.06 Thursday, according to the AAA's Daily Fuel Gauge Report.

Nationally, the average price for unleaded gas was $1.80, up from $1.66 a month ago.

Didn't see that coming.

Comments (8) RSS

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Just in time to correspond with all the foolish "low gas prices are causing XYZ" stories. Just today Sullivan was gloating that Chavez and Ahmedinejad were in trouble because gas is cheap. Morons are buying SUVs again.

Increasing gas prices are actually a good sign, because they mean demand is picking up, which means the global economy may be starting to recover. Of course, we've missed our chance to lay on a dollar gas tax like we should have done.

Posted by Fnarf on January 16, 2009 at 12:50 PM

Where does a newspaper get the ability to define what "cheap enough" means? What if I think it's too expensive, or too cheap?

Posted by Ryan on Summit on January 16, 2009 at 12:51 PM

Has the price of Oil been going up though?

Posted by Chris in Tampa on January 16, 2009 at 12:56 PM

Hmm, wonder why the P-I is closing down. Maybe because they spend their resources 'reporting' on bullshit like this.

Posted by NaFun on January 16, 2009 at 1:01 PM

Gas prices are going up specifically because crude prices are so low. Nobody's selling crude right now; they're just sitting on it hoping the price goes up soon.

Ah, economics . . . You've gotta love it.

Posted by Fifty-Two-Eighty on January 16, 2009 at 1:10 PM

What, you mean teh peoplez hain't been storing up barrelz of the stuff in they geerages in anticipashun of rizing pricez?

Stoopid, stoopid peoplez!

Posted by Waitin' Fer Teh Big 'un on January 16, 2009 at 1:21 PM

@1 is correct. But the major driver of that process is people working. If we invest larger amounts in transit, some of that demand ameliorates but transit is a small fraction of total consumption.

Business inventory moving is a major component though - both in supply and delivery to consumers and retail.

Posted by Will in Seattle on January 16, 2009 at 2:28 PM

A few days ago, I got gas in the middle of nowhere in eastern Wyoming for $1.35. It made me want to buy an SUV and just leave it running in the driveway all day. 'Merica!

Posted by Julie in Chicago (now in Eugene) on January 16, 2009 at 2:43 PM